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Individual investors are increasingly seeking access to alternative
investments to help diversify returns and reduce risk in their
portfolios. However, achieving this exposure has traditionally been
difficult, with investors requiring resources for manager selection,
expertise in risk management, and an ability to efficiently access such
opportunities. We believe this has left many individual investors'
portfolios and retirement accounts underweight alternatives, relative to
their institutional counterparts.

To bring alternative investments to a wider investor base, Goldman Sachs
Asset Management ("GSAM") today announced the launch of the Goldman
Sachs Multi-Manager Alternatives Fund (Class A Share: GMAMX) (the
"Fund"), which offers exposure to a range of alternative and
non-traditional investment strategies within the convenient structure of
a mutual fund. The Fund expects to invest in a wide range of strategies,
including equity long-short, dynamic equity, event-driven and credit,
relative value, tactical-trading, and opportunistic fixed income
strategies.

"We believe today's complex markets require sophisticated investment
techniques that can enhance a traditional portfolio, and bring investors
closer to their long term goals," said Jason Gottlieb, the Fund's
co-portfolio manager. "We are excited to offer investors the Goldman
Sachs Multi-Manager Alternatives Fund to complement core portfolio
holdings, by providing a comprehensive alternative investment solution
that may improve risk-adjusted returns and diversify a portfolio."

The Fund is offered in Class A and Class C Shares, both with $1,000
minimum initial investments. It also offers Institutional, Class R and
Class IR Shares.

Goldman Sachs Asset Management is the asset management arm of The
Goldman Sachs Group, Inc. (NYSE: GS), which manages $860 billion as of
March 31, 2013. Goldman Sachs Asset Management has been providing
discretionary investment advisory services since 1988 and has investment
professionals in all major financial centers around the world. The
company offers investment strategies across a broad range of asset
classes to institutional and individual clients globally. Founded in
1869, Goldman Sachs is a leading global investment banking, securities
and investment management firm that provides a wide range of financial
services to a substantial and diversified client base that includes
corporations, financial institutions, governments and high-net-worth
individuals.

The Goldman Sachs Multi-Manager Alternatives Fund allocates its
assets among multiple investment managers ("Underlying Managers") who
are unaffiliated with the Investment Adviser and who employ one or more non-traditional
and alternative investment strategies. A strategy implemented by an
Underlying Manager and/or the use of quantitative models to
implement that strategy may fail to produce the intended results.
Different investment styles (e.g., "alternative") tend to shift
in and out of favor, and at times the Fund may underperform other funds
that invest in similar asset classes. The Fund's equity investments
are subject to market risk, which means that the value of the
securities in which it invests may go up or down in response to the
prospects of individual companies, particular sectors and/or general
economic conditions. The securities of mid- and small-capitalization
companies involve greater risks than those associated with larger, more
established companies and may be subject to more abrupt or erratic price
movements. At times, the Fund may be unable to sell certain of its illiquid
investments without a substantial drop in price, if at all. The
Fund's investments in fixed income securities and loans are subject to
the risks associated with debt securities generally, including credit,
interest rate, liquidity, call and extension risk. Foreign and
emerging market investments may be more volatile and less liquid
than investments in U.S. securities and will be subject to the risks of
currency fluctuations and adverse economic or political developments. Derivative
instruments may involve a high degree of financial risk, including
the risk that a small movement in the price of the underlying security
or benchmark may result in a disproportionately large movement,
unfavorable or favorable, in the price of the derivative instrument; the
risk of default by a counterparty; and liquidity risk. Over-the-counter
transactions are subject to less government regulation and
supervision. The Fund is subject to the risks associated with short
selling of securities, which involves leverage of the Fund's
assets and presents various other risks. The Fund may have a high
rate of portfolio turnover, which involves correspondingly greater
expenses which must be borne by the Fund, and is also likely to result
in short-term capital gains taxable to shareholders. The Fund's investments
in other pooled investment vehicles subject it to additional
expenses. The Fund is "non-diversified" and may invest more of
its assets in fewer issuers than "diversified" funds. Accordingly, the
Fund may be more susceptible to adverse developments affecting any
single issuer held in its portfolio and to greater losses.

The AIMS Group also manages additional pooled vehicles which have
similar investment strategies to those of the Fund that are not offered
to retail investors and are not registered under the Investment Company
Act of 1940, as amended (the "Act"). Because these vehicles are not
registered under the Act, they are subject to fewer regulatory
restraints than the Fund (e.g., fewer trading constraints) and (i) may
invest with managers other than the Fund's Underlying Managers, (ii) may
employ strategies that are not subject to the same constraints as the
Fund, and (iii) may perform differently than the Fund despite their
similar strategies.

A summary prospectus, if available, or a Prospectus for the Fund
containing more information may be obtained from your authorized dealer
or from Goldman, Sachs & Co. by calling 1-800-526-7384. Please consider
a fund's objectives, risks, and charges and expenses, and read the
summary prospectus, if available, and the Prospectus carefully before
investing. The summary prospectus, if available, and the Prospectus
contain this and other information about the Fund. To learn more, visit www.gsam.com.

Goldman, Sachs & Co. is the distributor of the Goldman Sachs Funds.

Confidentiality

No part of this material may, without GSAM's prior written consent, be
(i) copied, photocopied or duplicated in any form, by any means, or (ii)
distributed to any person that is not an employee, officer, director, or
authorized agent of the recipient.